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Boom and Bust of the Spanish Economy

30 Pages Posted: 6 May 2011  

Tomer Shachmurove

Pennsylvania State University - College of the Liberal Arts - Department of Economic

Yochanan Shachmurove

City University of New York, CUNY City College of New York - Department of Economics; The University of Pennsylvania - Department of Economics

Date Written: May 4, 2011

Abstract

Spain has experienced many financial crises through its history. These financial crises have varied origins. However, they do have common threads. The current recession and subsequent debt crisis follow the same pattern. The fiscal and monetary policies of the Spanish government have played a role in creating and prolonging the boom and bust cycles. Government spending, government regulation, credit institutions, budget deficits, the political climate, and international trade are discussed to illuminate the causes and effects of these business cycles. The Spanish government can take action to improve the economy and to lessen the effects of its financial crises.

Keywords: Spain, Spanish Economy, Financial Crises, Federal Budget Deficit, Banking Crises, Subprime Mortgage, Spanish Industrial Revolution, Economic History, Political Economy, International Trade, Government Regulation

JEL Classification: E0, E3, E44, E5, E6, F0, G0, G18, G38, N0, N1, N2

Suggested Citation

Shachmurove, Tomer and Shachmurove, Yochanan, Boom and Bust of the Spanish Economy (May 4, 2011). PIER Working Paper No. 11-011. Available at SSRN: https://ssrn.com/abstract=1831553 or http://dx.doi.org/10.2139/ssrn.1831553

Tomer Shachmurove

Pennsylvania State University - College of the Liberal Arts - Department of Economic ( email )

524 Kern Graduate Building
University Park, PA 16802-3306
United States

Yochanan Shachmurove (Contact Author)

City University of New York, CUNY City College of New York - Department of Economics ( email )

160 Convent Avenue
New York, NY 10031
United States
212-650-6202 (Phone)

The University of Pennsylvania - Department of Economics ( email )

160 McNeil Building
3718 Locust Walk
Philadelphia, PA 19104
United States
215-898-1090 (Phone)
215-573-2057 (Fax)

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